Redpoint Investment Management Pty Ltd boosted its position in shares of McKesson Co. (NYSE:MCK) by 36.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,728 shares of the company’s stock after buying an additional 7,186 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in McKesson were worth $3,653,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Securian Asset Management Inc boosted its holdings in McKesson by 0.4% in the 2nd quarter. Securian Asset Management Inc now owns 19,633 shares of the company’s stock valued at $2,638,000 after purchasing an additional 70 shares in the last quarter. YHB Investment Advisors Inc. increased its holdings in McKesson by 2.3% during the 3rd quarter. YHB Investment Advisors Inc. now owns 3,605 shares of the company’s stock valued at $493,000 after acquiring an additional 80 shares in the last quarter. FNY Investment Advisers LLC raised its position in McKesson by 6.2% during the third quarter. FNY Investment Advisers LLC now owns 1,376 shares of the company’s stock worth $188,000 after acquiring an additional 80 shares during the last quarter. National Asset Management Inc. lifted its holdings in shares of McKesson by 3.9% in the second quarter. National Asset Management Inc. now owns 2,239 shares of the company’s stock valued at $302,000 after purchasing an additional 85 shares in the last quarter. Finally, Asset Dedication LLC grew its position in shares of McKesson by 35.2% in the second quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $46,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 87.34% of the company’s stock.
In other McKesson news, CEO Brian S. Tyler sold 6,000 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $135.00, for a total value of $810,000.00. Following the sale, the chief executive officer now directly owns 18,192 shares in the company, valued at $2,455,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lori A. Schechter sold 2,500 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $144.40, for a total transaction of $361,000.00. Following the completion of the sale, the executive vice president now directly owns 4,535 shares in the company, valued at approximately $654,854. The disclosure for this sale can be found here. Insiders have sold a total of 10,197 shares of company stock worth $1,422,929 over the last quarter. Insiders own 0.88% of the company’s stock.
Several research analysts recently issued reports on the company. Deutsche Bank began coverage on McKesson in a research report on Thursday, September 12th. They set a “hold” rating and a $155.00 price objective for the company. Morgan Stanley increased their price objective on McKesson from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 27th. Cleveland Research reissued a “hold” rating on shares of McKesson in a research note on Thursday, September 5th. TheStreet lowered McKesson from a “b” rating to a “c-” rating in a research note on Wednesday, October 30th. Finally, ValuEngine lowered McKesson from a “sell” rating to a “strong sell” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $146.33.
MCK stock traded down $1.66 during trading on Thursday, reaching $141.30. 34,544 shares of the stock traded hands, compared to its average volume of 1,552,201. The firm has a market capitalization of $25.55 billion, a PE ratio of 10.41, a P/E/G ratio of 1.44 and a beta of 1.14. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.01 and a quick ratio of 0.57. McKesson Co. has a 52-week low of $106.11 and a 52-week high of $154.79. The business’s 50 day moving average price is $145.06 and its 200-day moving average price is $139.35.
McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $3.60 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $3.60. McKesson had a negative net margin of 0.29% and a positive return on equity of 32.77%. The company had revenue of $57.62 billion during the quarter, compared to the consensus estimate of $55.06 billion. During the same quarter last year, the company earned $3.60 earnings per share. McKesson’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities research analysts predict that McKesson Co. will post 14.39 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, November 29th. McKesson’s dividend payout ratio (DPR) is presently 12.09%.
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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